Changes to UK company law: a big moment for Companies House

With the biggest changes coming at companies house for the first time in a decade! What are the changes and how to they affect you and your company. 

The measures set out in the act will give companies house new and enhanced powers to improve the quality and reliability of their data. Used by millions of people and companies across the UK. 

The new measures will allow companies house to act more quickly esspecially in cases where peoples personal information has been used on the register without their consent. Which has been a growing issue in the UK with a number of "ghost" companies popping up.  

The measures include:

• introducing identity verification for all new and existing registered company directors, people with significant control, and those who file on behalf of companies
• broadening companies house powers over the creation of new companies resulting in more reliable data
• improving the financial information on the register so that the register is more reliable and accurate, reflects the latest advancements in digital technology, and enables better business decisions
• providing Companies House with more effective investigation and enforcement powers, and increasing our ability to share relevant information with their partners
• enhancing the protection of personal information to protect individuals from fraud and other harms

New objectives for the Registrar of Companies

The act has introduced 4 new objectives for me as the Registrar of Companies for England and Wales. Alongside my colleagues, I’ll promote these objectives while carrying out my duties:

1. To ensure that anyone who is required to deliver a document to the registrar does so (and that the requirements for proper delivery are complied with).  
2. To ensure information contained in the register is accurate and that the register contains everything it ought to contain.
3. To ensure that records kept by the registrar do not create a false or misleading impression to members of the public.
4. To prevent companies and others from carrying out unlawful activities, or facilitating others to carry out unlawful activities.

For more information on these changes contact us today or check out the companies house website below for full detail: 

https://companieshouse.blog.gov.uk/2024/01/22/get-ready-for-changes-to-uk-company-law/